Former Fed QE guy Confesses, Apologizes: "I Can Only Say: I'm Sorry, America."

Quote from denner:
Just an observation based on how quickly you replied to the thread, yet I rarely see any of your posts any longer.

I can relate to the lack of interesting conversations...basically, most threads just re-circulate numerous times with the same talking points.
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Ah, indeed... The speed with which I responded was a coincidence, in this case.
 
Huszar was hired because he knows how to buy and sell bonds. His opinion regarding the efficacy of QE is no more valid than that of any of the rest of us. He was a functionary, not a policy maker.. His opinion with regard to hand outs to Wall Street I would listen to, however.

Incidentally, I agree with his view that "... [QE] killed the urgency for Washington to confront a real crisis: that of a structurally unsound U.S. economy. But even if we are both correct on this point, we could easily disagree on the the need for QE in the first place. There I would definitely trust Bernanke's opinion over my own, or Huszar's..
 
Quote from Martinghoul:

I can only imagine that you were referring to me, amico?

Is there anything I can assist with?
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You are certainly one of the apologists I was referring to. Piezoe is yet another. As a supporter of QE, I am curious what your thoughts on the above article were. Since you offered no defense against it, maybe you have begun to change your opinions?
 
The Fed now owns a third or 32.47% of all 10 Year equivalents, up 32.22% from the prior week, and rising at a pace of 0.3% per week.

from ZH:

Fed%20duration%20Nov_0.gif


Second, the Fed is now monetizing a record 70% of all net US 10 Year equivalent issuance.

Fed%20Monetizations%20TSY%20GSE_0.jpg
 
Quote from Tsing Tao:

You are certainly one of the apologists I was referring to. Piezoe is yet another. As a supporter of QE, I am curious what your thoughts on the above article were. Since you offered no defense against it, maybe you have begun to change your opinions?
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Even I know that's a disgruntled employee issue.. :p
 
Quote from Tsing Tao:

You are certainly one of the apologists I was referring to. Piezoe is yet another. As a supporter of QE, I am curious what your thoughts on the above article were. Since you offered no defense against it, maybe you have begun to change your opinions?
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It's indefensible, hence the silence.
 
Quote from piezoe:

Huszar was hired because he knows how to buy and sell bonds. His opinion regarding the efficacy of QE is no more valid than that of any of the rest of us. He was a functionary, not a policy maker.. His opinion with regard to hand outs to Wall Street I would listen to, however.

Incidentally, I agree with his view that "... [QE] killed the urgency for Washington to confront a real crisis: that of a structurally unsound U.S. economy. But even if we are both correct on this point, we could easily disagree on the the need for QE in the first place. There I would definitely trust Bernanke's opinion over my own, or Huszar's..
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Could the "I" in your last sentence be understood by others to mean someone other than Piezoe? What makes you believe in Bernanke? What if certain Bernanke's decisions caused problems? Prior to the internet, when wrong, a banker could just answer who would have known? We have now the internet storing his judgements and the judgements of others. So one could tell who was right and who was wrong. Sadly, people do not appear to always go back and read who said what.

If you were in a recession, would you raise interest rates? If you were to do that, what are the consequences?

If a banker thinks he is in an inflation condition and expanding economy, when the economy is in a recession and others see it like the sun in the middle of the day, what should one conclude about the banker?
 
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